Prosecutor Investigates Certificate Sales

Broward County prosecutors and the Florida Attorney General`s Office are investigating allegations that bidders for county tax certificates have tried to limit competition.

``Possibly, if anything, it might be a violation of the antitrust laws,`` saidChief Assistant State Attorney Ralph Ray Jr.

Each year, the Broward County Revenue Collection Division auctions thousands of the tax certificates on properties whose owners have not paid their taxes. Successful bidders pay the back taxes and earn interest until the property owner pays the taxes owed.

The bidding starts at 18 percent, and potential buyers compete by offering a lower interest rate. But at auctions this year, there were allegations that professionals rigged the sale so that only one bidder made an offer on each certificate.